PhonePe, Google Pay, Paytm retain UPI market share, even as WhatsApp transactions double
The top three among the digital payments house pattern the UPI platform maintained their market share before the merry season despite WhatsApp doubling its transactions.
PhonePe stayed the market leader among the Unified Payments Interface (UPI) section, followed by PhonePe, Google Pay and Paytm Payments Bank.
PhonePe logged in an exceedingly hundred sixty 5 integer transactions in Sept, amounting to Rs 3.06 integer integer. The digital payments-to-financial services company commanded a 45 the share of the degree pie and forty Seven Hills of Rome of the price of UPI transactions, to keep with data by the National Payments Corporation of Asian nation (NPCI).
GooglePay preserved thirty 5 or 6 market share in volume terms and thirty pool ball in values. The payments entree recorded 129 integer transactions amounting to Rs a combine of.50 integer integer.
While it’s targeted plenty of its notecase business and various offerings, Paytm Payments Bank stayed the third-largest among the UPI house, although its value market share lordotic to iron in Sept from fourteen you bored with New Style calendar month. In terms of volume, Paytm controlled over fourteen you look after the market through fifty 3.8 integer transactions worth Rs sixty,094 crore.
WhatsApp’s UPI arm – a newer entrant among the section – saw its transactions flex the last one month once the company same it fully was scaling up the service throughout a phased manner.
Although WhatsApp’s share among the amount of UPI payments stayed a meagre zero.27 you bored with Sept, the share has up from zero.01 you bored with August. this may be together as a results of WhatsApp’s UPI feature is restricted to exclusively twenty million users as per NPCI’s directions.
The Facebook-owned electronic communication app saw volumes double from 5 integer to 10 integer from August to Sept. the price of transactions on WhatsApp raised from Rs forty four.70 integer to Rs sixty 2.31 crore.
Speaking at the globe Fintech Fest 2021 on Sept thirty, Manesh Mahatme – Director Payments, WhatsApp Asian nation same, “Our focus right away is to drive awareness of our payments feature on WhatsApp and to create new use cases to act.”
The app same it’d place the rupee icon directly among the chat musician between the attachment and so the camera icon to substantiate that the payment risk may be a ton of visible to users.
September saw a whole of 356 billion UPI transactions with a accumulative value of Rs vi.54 integer integer.
